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IES projects fuel price increase in second pricing window of October

By Eric Nana Yaw Kwafo
Oil and Gas IES projects fuel price increase in second pricing window of October
OCT 15, 2021 LISTEN

The Institute for Energy Security (IES) has projected the prices of fuel at the local pumps to go up in the second pricing window of October.

This is because of the 6.89 percent increase in the price of the International Benchmark- Brent crude, the 6.54 percent increase in price of Gasoline, the 3.49 percent increase in Gasoil price, and the 0.49 percent depreciation of the local currency against the US Dollar

“The Institute for Energy Security (IES) projects for fuel price to increase by no more than GHp20.00 addition on the current price at the various pumps,” a press release signed by IES Research Analyst Fritz Moses has said.

Meanwhile, the IES says the removal of the Price Stabilization and Recovery Levy (PSRL) of GHp16.00 on litre of Gasoline, GHp14.00 on Gasoil and LPG, will not take effect in this window.

As reported by Modernghana News earlier this week, the National Petroleum Authority (NPA) has announced the removal of the Price Stabilization and Recovery Levy.

The removal of the GHp16.00 on litre of Gasoline, GHp14.00 on Gasoil and LPG is for two months but the particular timeline is yet to be confirmed.

Find below the full IES statement:

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Eric Nana Yaw Kwafo
Eric Nana Yaw Kwafo

Journalist

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